EMU: ECB cuts refi rate by 25bp to 0.50% in May

FXstreet.com (Barcelona) - For the first time since July 2012, the ECB has decided to change its refi rate in May 2013, cutting it by 25bp, from 0.75% to 0.50%, in line with consensus. The interest rate on the marginal lending facility will be decreased by 50 basis points to 1.00%. Both changes will be in effect from 8 May 2013. The interest rate on the deposit facility will remain unchanged at 0.00%.